The Royal Canadian Mint, or RCM, has been around since 1908. RCM produces all of Canada’s monetary coins and, as of more recently, coins for other foreign nations too. RCM’s expertise in the production of silver and gold coins is well known — but what many collectors don’t know is that RCM also produces platinum and palladium coins.
To get the best prices on silver bars from the Royal Canadian Mint, you’ll want to be sure to check out our Golden Eagle Coins review — in our experience, they have the lowest prices on RCM silver products on the Internet, particularly the new 100 ounce RCM silver bars.
Given the name Royal Canadian Mint, many people think RCM’s operations are paid for with the Canadian taxpayer’s dollar. This is not true. In reality, the Royal Canadian Mint operates like any business, with a Board of Directors and the aim of turning a profit. The money to fund RCM’s minting operations comes from the sale of RCM’s products, which leads RCM to operate as efficiently as any other corporation, which it is. RCM is a Crown Corporation and not a Canadian government entity — in fact, RCM is one of Canada’s most renowned companies and consistently rated one of the country’s best employers to work for.
RCM operates two primary facilities in Canada, the original facility in Ottawa and a newer one in Winnipeg. Though RCM depends on these facilities to operate and produce over two billion coins each year, they’re fairly new. Before the 1900s, all of Canada’s coins were minted at the Royal Mint of England, in the UK.
Starting in 1901, the Royal Mint of England started building a facility in Ottawa. It was finished 7 years later. Then in 1931, during the Great Depression, RCM managed to negotiate its independence from the Royal Mint of England and started operating on its own.
RCM outgrew its Ottawa facility by the year 1960. At this point, lack of space meant many of RCM’s coins were being produced at the Philadelphia Mint in the US. It became urgently clear that RCM needed to expand into a second facility somewhere in Canada in order to properly fulfill its mandate to mint the country’s coins. Unfortunately, building a new facility was a very time consuming process, and RCM’s new Winnipeg facility wouldn’t open until 1976.
RCM does not simply produce coins. RCM also advises Canada’s Finance Minister on Canadian coins and coin production. RCM’s two facilities produce a combined total of more than 2 billion coins per calendar year, including new designs and styles released each year. RCM’s coin production facilities are so large that, since 1971, RCM has minted coins for many countries besides Canada — such as Iran, Venezuela, Jamaica, and more.
Most recently, RCM produced a special coin series to celebrate the Vancouver Winter Olympics. This series is one of RCM’s most popular special coin editions. (As well as the coins celebrating the Vancouver Games, RCM continues to manufacture many other special edition coins for collectors and investors alike.)
RCM’s silver bar selection is fairly limited. Most silver retailers only stock RCM’s 100 ounce silver bar, which consists of .9999 fine silver stamped with RCM’s logo. An image of the 100 ounce RCM silver bar is below:
A great many investors choose and prefer the Royal Canadian Mint’s silver bars for a number of different reasons, including their wide availability, name, and low premiums.
- Wide availability: The Royal Canadian Mint manufactures tremendously large quantities of their 100 ounce silver bars each production year. This means RCM silver bars are easy to find in the silver market and there are almost never any supply issues.
- Trusted name: RCM is a highly trusted name in the world bullion industry, which leads investors to be confident when they are presented with a silver bar bearing the RCM stamp.
- Low premiums: Though RCM silver bars are very popular and in demand among investors, they typically carry a very low premium over the silver spot price. Typically they carry no more than a dollar or two premium per ounce in the retail environment.
You can purchase RCM silver bars by visiting www.GoldenEagleCoins.com. We prefer to use Golden Eagle as our dealer when purchasing RCM products, as they provide 100 ounce RCM silver bars at the Internet’s best prices.